Bitcoin Faces Sharp Drop as $730 Million Withdrawn, Price Falls Below $69,000

The cryptocurrency market witnessed significant volatility today as approximately $730 million was withdrawn from Bitcoin, causing its price to dip below the crucial $69,000 level.

This sharp outflow comes amid escalating global trade tensions, particularly following U.S. President Donald Trump's announcement of new tariffs, sparking fears of an extended trade war and its potential impact on financial markets.

Additionally, over $250 million worth of leveraged long positions were liquidated in the past 24 hours — the highest level since March 7 — further fueling bearish pressure on Bitcoin.

From a technical perspective, the $69,000 level is considered a critical support zone. According to analyst Burak Kesmeci, this price point reflects the average entry level for Bitcoin ETFs and has proven to be a reliable support level since their launch in early 2024.

As of the latest data:

Bitcoin (BTC) Price: $75,066

24h Change: -$8,111 (-9.75%)

Intraday High: $83,186

Intraday Low: $75,043

With rising geopolitical uncertainty and increased market volatility, investors are urged to closely monitor key support and resistance levels and make informed decisions based on market developments.